Institute of Mathematics and Applications, Bhubaneswar

This article is about the IMA in India. For other uses, see Institute of Mathematics and Applications (disambiguation).

Institute of Mathematics and Applications (IMA)
Type	Public
Established	1999
Director	Prof. A.K.Mishra
Location	Bhubaneswar, Odisha, India
Campus	Urban 23-acre (93,000 m²)
Website	www.iomaorissa.ac.in

Bhubaneswar

Location of IMA

The Institute of Mathematics and Applications, (IMA) Bhubaneswar is an academic institution that was established by the government of Odisha in 1999. Its dual purposes are to conduct advanced research in pure and applied mathematics, and to provide postgraduate education leading to Masters and Ph.D. degrees in mathematics, computation and computational finance. The institute also runs training programs in schools aimed at increasing mathematics awareness and leading to competitions such as the Mathematics Olympiads. It is affiliated to Utkal University which is one of the largest affiliating

History

The institute began functioning in 1999 inside a room of the Pathani Samanta Planetarium in Bhubaneswar. In July 2008, IMA acquired its own residential campus, built by Tata Steel in Bhubaneswar city, when it was established as a full-fledged, degree granting academic institution.^[1]

Campus

The main institute is a 7,000 square metres (75,000 sq ft) complex, which was designed by architect Karan Grover, with an investment of Rs. 140 million. The 23-acre (93,000 m²) campus also includes computer laboratories, classrooms, a library, as well as residential accommodations. A play ground and a volleyball court are also included.^[1]

Aims and Objectives

The aims and objectives of the Institute as specified in the memorandum are as follows: -

To undertake fundamental research in Mathematics and its Applications.
To undertake and support inter-disciplinary research through interaction between Mathematicians and Physical / Biological / Engineering /Social Scientists.
To organize re-orientation and refresher programmes for teachers / research scholars with a up gradation in teaching / research.
To develop exchange programmes and arrange for visit of eminent Mathematicians / Scientists in related fields.
To establish a Multi-purpose Documentation-cum-Library Centre with Multi-purpose computing facility.
To organize publication of research journals /monographs / proceedings / papers in Mathematics and applications.
To provide for search and nurturing of talents in Mathematics.
To investigate into India's mathematical traditions.
To evaluate the status of teaching and research in mathematics in Scholars / Colleges / Universities in collaboration with such authorities and make recommendations to the authorities for their up gradation.
To establish interaction with other Institutions / Universities / Academic Societies of higher learning both at the National and International level.
To provide guidance in research for Doctoral and Post-doctoral Scholars.
To honor eminent Mathematicians of the State by Institutional Awards and Fellowship.
To provide consultancy to user industries and to render technical advice and service to Government / other Institutions.
To perform all such other cases and take up all such steps as may further all of the aforesaid objectives.

Activities

The current focus areas of research within the institute include wavelet analysis, stochastic processes, operator theory, fuzzy logic, geometric application in physics, approximation theory, and cyclone modelling, Machine Learning in Finance, Computational Finance.

The institute offers a B. Sc. Honors degree in Mathematics and Computation as well as an M. Sc. degree in Computational Finance. It currently admits 96 students each year based on an entrance examination.^[2]

It also provides training to school students for mathematical competitions.^[3]

The institute professes to investigate the mathematical tradition of ancient India. It also provides awards to eminent mathematicians in the state of Odisha.

B.Sc. Honours in Mathematics and Computing

The institute offers a Bachelor of Science (Honours) Degree in Mathematics and Computing. The course includes study of pure mathematics as well as mathematical modelling and the use of abstract methods to solve concrete problems.

M.A./M.Sc. in Computational Finance

Finance as a subject has emerged to be an extremely involved branch of knowledge with growing number of stock exchanges and investors in the field. Risk and return that constitute cardinal aspects of the subject, remain as a major concern for every investor, individual as well as institutional. Volumes of data encountered in the process make investment decisions difficult. In apparently erratic behaviors of the market, however the mathematicians try to capture patterns vis- a-vis predictability, which may help investors decide on their investment. Computational finance otherwise called financial engineering deals with portfolio selection, options and futures, asset pricing, managing derivative markets and hedging under uncertainty. The course imparts, besides, basic grounding on finance, expertise for modeling under uncertainty, a high level of computational skill geared towards finance, knowledge of financial accounting and regulations. The aim is to produce a competent financial engineer capable of analyzing existing financial products and suggest new innovative products for the financial market.

References

1 2 Orissa Today (18 June 2009). "Odisha CM inaugurates new mathematics institute complex in Bhubaneswar".
↑ Higher Education in India (28 June 2009). "IMA entrance examination".
↑ Times of India (14 June 2009). "Making maths hot favourite". The Times Of India.

External links

Coordinates: 20°19′03″N 85°46′41″E / 20.3175°N 85.7780°E / 20.3175; 85.7780

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